FOAD or play it out

Anonymous · ‎08-05-2007

Rec'd letter from CA, Portfolio Recovery Assoc, LLC, yesterday regarding an old debt. The debt has already aged off my CR and is way past the SOL.

FOAD, or play it out by acting dumb and starting with the DV process?

Anonymous · ‎08-05-2007

I've got the same problem. Got a letter in the mail a couple of weeks ago about an account that I'm not sure ever appeared on my credit report but is 10 years old. They clearly stated the last payment date in the letter and it was exactly 10 years ago. They did do a hard inquiry last year but they can't legally put these charges on my credit report now because it's well past the 7 year reporting limit. I'm not sure they could seek judgment because I didn't sign anything and it was a revolving type credit which means the SOL is up in my state.

I say go the FOAD route if you're 100% sure they can't seek judgment. Is it really worth your time and effort to DV? Or do you just want to have a little fun and to waste their time for a change?

Anonymous · ‎08-05-2007

I say always DV rather than FOAD. FDCPA says DV if you dispute "the debt, or any portion thereof". You're disputing their legal standing to collection.

http://www.ftc.gov/os/statutes/fdcpa/fdcpact.htm#809

If you DV, you protect yourself because the hammer of debt validation can earn you $1,000 or more. A lot of consumer lawyers are very interested to hear from folks who DV, but the CA persists in calling, writing or reporting to the CRAs.

If you FOAD, it's fairly easy for a CA to lie to the CRAs and continue reporting a debt even though it's beyond CRTP.

If you DV, you have a lot more legal weigh to throw around.

Anonymous · ‎08-06-2007

Thanks HouseHunter & Noah.

I'm inclined to agree with Noah (thanks for the link, BTW). It's tempting to write the FOAD but doing so could bring unwanted retribution (at this point anyway).

I don't want to deal with the account being re-aged or having a suit filed against me at an old address, etc. If I respond with a DV I'll hopefully get correct account documentation and I'll have confirmed my correct mailing address.

My phone is not ringing yet. In my DV I will state that all correspondence shall be by mail only. I will also state, for the record, that IF they choose to contact me by phone (against my wishes & directions) that all calls WILL be recorded.

Dang it. This account had finally dropped off my CR and now it's a zombie, biting me in the a$$.

Noah_Bodie wrote:
I say always DV rather than FOAD. FDCPA says DV if you dispute "the debt, or any portion thereof". You're disputing their legal standing to collection.
http://www.ftc.gov/os/statutes/fdcpa/fdcpact.htm#809

If you DV, you protect yourself because the hammer of debt validation can earn you $1,000 or more. A lot of consumer lawyers are very interested to hear from folks who DV, but the CA persists in calling, writing or reporting to the CRAs.

If you FOAD, it's fairly easy for a CA to lie to the CRAs and continue reporting a debt even though it's beyond CRTP.

If you DV, you have a lot more legal weigh to throw around.

Message Edited by Anderson on 08-06-2007 06:27 AM

Anonymous · ‎08-06-2007

HouseHunter wrote:
Is it really worth your time and effort to DV?

Something to consider.

Writing a FOAD letter and writing a DV letter take about the same amount of time.

It's 41 cents to mail a letter first class, and $5.21 to mail a letter CMRRR.

If you FOAD via first class, how can you prove you did it? Same question with a DV letter. Answer is you're going to have to send it CMRRR if you want to prove you did it, whether you FOAD or DV.

Let's say you're comfortable with a 41 cent FOAD, so you're saving $4.80 by sending a FOAD letter.

I think it's worth it to spend the $4.80 and DV to ensure the stake is positioned to go straight through the monster's heart should it rise from the grave after the sun goes down.

Anonymous · ‎08-06-2007

I agree 100% Noah,with CMRRR. This is our credit that we are working our azz off trying to correct. If no RRR they do not need to respond at all.

lmao I never respond to any letters that I would get from CA. What can I say? we have crappy mail delievery here!!

Message Edited by HappyDays on 08-06-2007 10:06 PM

Anonymous · ‎08-07-2007

DV went out CMRRR this morning, straight to the monster's lair.

Noah_Bodie wrote:

........I think it's worth it to spend the $4.80 and DV to ensure the stake is positioned
to go straight through the monster's heart should it rise from the grave after the sun goes down.

Anonymous · ‎08-07-2007

Eventually I'm going to send a FOAD letter to someone, and I'm going to tell them to "fly off and die"--just for the satisfaction of having done it.